Apr 10, 2012

April 2012 Denver Housing Report

The market has seen a huge bump this month with a 40% rise in sales since our March report. Home and condo prices have also been on the climb, with the increasing number of sales thorughout the Denver market. Notice the 3 green arrows pointing up this month? That hasn't happened since June 2011.

Over the last couple of months now, the scene at Denver Area homes-for-sale has been a hubbub of activity. Home shoppers have arrived at the door like they were on a conveyor belt. Those buyers are finally reaching the closing table, and last months closed sales attest to that.

Another surprise in Denver's April housing report is that the 'average home price' also climbed sharply last month. Over the last 30 days alone, Denver Metro's "average home price" has jumped almost 5%. Although individual home prices won't necessarily jump on that news (because of tightened appraisal standards), it does indicate that the upper price ranges are finally beginning to sell. Condos did not jump quite as much as single family homes, but we've still seen increases two months in a row. The condo market appears content for the time being with the vast majority of sales occuring below the $200k price range.

Overall, the best news of April's Denver Housing Report for is that our upper price ranges are finally beginning to move, and that long-standing inventory is beginning to shed itself from the market. Move-up buyers are back, and ready to take advantage of the reasonable prices and rates.

What I anticipate we'll see throughout the remainder of the Spring, is that many homes now just coming to market will be absorbed by an ever increasing number of anxious home buyers, just as soon as they arrive. Stay tuned as Denver's housing scene continues to improve, and we'll bring you all the latest news.

Average Home Price & Solds Graphs

Average Home Price, Inventory, & Days-On-The-Market Graphs

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Today's Interest Rates

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Data for our Average Home Price And Trends Report is provided by Metrolist. Graphs copyright© Michael Dagner Group. All information deemed accurate, but cannot be guaranteed. Image attribution - percent - www.sxc.hu

 

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